RBC Bearings Incorporated (NYSE:RBC) Stake Lifted by Raymond James Trust N.A.

Raymond James Trust N.A. increased its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 2.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,116 shares of the industrial products company’s stock after purchasing an additional 53 shares during the period. Raymond James Trust N.A.’s holdings in RBC Bearings were worth $633,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC raised its stake in shares of RBC Bearings by 41.3% in the 2nd quarter. CWM LLC now owns 10,436 shares of the industrial products company’s stock worth $2,815,000 after buying an additional 3,051 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in RBC Bearings by 17.3% during the third quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after acquiring an additional 13,395 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in RBC Bearings in the second quarter worth about $2,380,000. Segall Bryant & Hamill LLC lifted its holdings in RBC Bearings by 41.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock valued at $8,896,000 after acquiring an additional 8,725 shares during the last quarter. Finally, Geneva Capital Management LLC boosted its position in shares of RBC Bearings by 1.4% during the 3rd quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock valued at $176,829,000 after purchasing an additional 8,012 shares in the last quarter.

RBC Bearings Trading Up 0.6 %

NYSE RBC opened at $338.85 on Tuesday. The firm’s 50 day moving average price is $298.76 and its two-hundred day moving average price is $289.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. RBC Bearings Incorporated has a twelve month low of $240.36 and a twelve month high of $343.66. The stock has a market cap of $10.64 billion, a price-to-earnings ratio of 49.47, a PEG ratio of 4.63 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.01). RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The business had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same period in the previous year, the firm posted $2.07 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Equities analysts anticipate that RBC Bearings Incorporated will post 8.94 EPS for the current year.

Insider Activity

In related news, CEO Michael J. Hartnett sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $284.23, for a total transaction of $852,690.00. Following the transaction, the chief executive officer now directly owns 294,120 shares of the company’s stock, valued at approximately $83,597,727.60. The trade was a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 34,127 shares of company stock worth $9,839,707 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RBC. Truist Financial boosted their target price on shares of RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. KeyCorp upgraded RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective for the company in a research report on Friday. Finally, Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $324.67.

RBC Bearings Company Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.